Jacobs Levy Equity Management Inc. Acquires 769,281 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Jacobs Levy Equity Management Inc. grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 20.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,481,794 shares of the company’s stock after acquiring an additional 769,281 shares during the period. Jacobs Levy Equity Management Inc. owned 0.51% of Robinhood Markets worth $104,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HOOD. Allspring Global Investments Holdings LLC increased its stake in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares in the last quarter. Azora Capital LP acquired a new stake in Robinhood Markets during the third quarter valued at $79,780,000. FMR LLC grew its position in Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the period. Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Finally, Sparta 24 Ltd. lifted its holdings in Robinhood Markets by 905.8% during the third quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock valued at $38,061,000 after purchasing an additional 1,463,578 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 139,916 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total transaction of $2,735,357.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,673,049 shares of company stock worth $114,711,569. Corporate insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Bank of America lifted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods cut their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Barclays upped their target price on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on Robinhood Markets from $25.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Robinhood Markets Stock Up 0.2 %

HOOD stock opened at $37.62 on Tuesday. The business’s fifty day moving average is $28.43 and its 200-day moving average is $23.70. The company has a market cap of $33.26 billion, a P/E ratio of 63.76, a price-to-earnings-growth ratio of 0.87 and a beta of 2.08. Robinhood Markets, Inc. has a twelve month low of $9.33 and a twelve month high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. Research analysts anticipate that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.